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Below is an Interesting article I found, which says that.....Do not $ r6 O! q3 l# j
expect much from Crude Oil producers and future is not with the
$ S" W( X! M9 H! n5 \+ \companies producing Jet fuels but Biofuels. Also no wonder if some of $ r7 [- @0 ]9 }2 D6 J8 G+ e
these oil producer will go bankrupt or out of the business even if 2 S5 C1 Q( W# `4 T, N$ [3 s
crude prices improves. This implies also to good names such as Shell, ; F* a; T6 C _3 e; I+ |. F0 H
EXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few
0 t' l& {# T* Wmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
' l6 E& P& C+ Y6 M/ D* X4 u% o; GA year ago these things would have spiked the price of crude oil by at
: j0 p" w" \0 w& {+ Z. L7 [' Jleast $50.00 per barrel. Today, oil price declined by a record amount.
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: M! j2 F" _2 O9 m* ~There are several reasons the price of oil is decreasing in the face 1 Q! F' f. _0 G) B n3 {6 d
of so much news. These reasons are: ! r7 I5 A& _) a, z) ^+ A* X: l) c
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! z# Y! m% |5 c- V4 R+ z/ v1. New oil has been found in Canada, Montana, North & South Dakota and
6 M& m4 Z7 R. ]0 }5 e5 xin the ocean near Brazil. Each of these oil fields has more oil than
0 O$ e/ V- v' n0 G( UArabia. 2 z/ k6 P- j. N9 t, t
$ s* B4 P5 C8 p- r
9 \ b- Z0 {* \8 C2 Q( L( f2. New natural gas has been found in Pennsylvania and West Virginia. + b5 }+ b- M1 ?. \* {. D8 ^7 u
This is the largest find in North America. 2 s4 p$ L# r) j7 n
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3. New methods of injecting CO2 and surfactants into oil wells is 3 _) s4 x+ v% B. G$ p2 B
being used to double their output. / X2 C4 B; M0 q9 w7 P' T
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4. Production of bio-fuels is beginning to reach critical mass. Bio
4 u( f0 D) ^- nfuel is being produced from many plants and algae. The production i' O3 }% x; @
potential per acre in some cases is astounding. Many countries are
& c4 e4 d% c A7 H& I1 Wracing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants
9 K% Y' E1 o1 Q4 k2 G. hare now selling their used oil to bio-diesel producers. Every pork, - w# |3 F6 E2 h" h
cattle, turkey and chicken processing plant will soon sell their fat
1 l4 L O+ t. R6 K! @6 g2 yto bio-diesel producers. One pork processing plant in Oklahoma is + m9 o6 H6 ^2 K6 |7 B& c9 M* u
producing 30,000 gallons of bio-diesel per day from pork fat. 2 n% M6 X w2 p' }+ V+ u
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6. There are 99 nuclear reactors in various stages of planning and
! S+ F3 H6 R. I0 C' J' Fconstruction around the world at this time. Several hundred more are
/ F. a3 Y) |' z7 t6 gexpected to be built in the future. Much of the energy they produce
" @: f# O# O! O- }3 o2 rwill replace oil. 9 v2 ?8 q. G" r! G5 ]% Q* ~& _
0 n8 L0 x, o9 E, ^) ^: q
) Q# p0 _6 h- c6 V7. Every company in any form of transportaion business is replacing
: B0 Y' l/ y+ W# G& Xolder equipment such as trucks, airplanes, train engines, ships, etc. 7 H" c0 a% ?$ [+ ?
with new more fuel efficient equipment. Airlines and railway companies
$ E @: s. Y' _+ Y8 `( tare experiencing 20% to 25% better fuel econony with the new ) w, h0 F0 t5 {. p( h
equipment. 1 s0 P% R6 ]2 M5 ]
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- M6 }; o. t/ L8 n( u9 h I' lAirlines are flying airplanes with bio-fuel. They are finding the bio- @: K \$ n" b! s% q0 E
fuel is cleaner and performs better than jet fuel. , q, \# u7 e w* n- F& G7 z
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1 S% q* e1 ]2 m0 `% Q8. Cities and counties throughout the US are selling the rights to
" F, l) J* X, } Icapture methane gas from landfills. This is a huge source of gas
+ h5 T8 f9 z# [available at very little cost or risk. The gas is displacing crude & F3 {* g' D2 s, |7 x
oil. 5 s5 L) ^( z8 ^1 V; d, Y6 P
y+ S; U; a& u. H2 Y
; v. i+ c- L# T/ S( p9. Coal is being transformed into a clean burning liquid fuel. The CO2 0 v( N) K% Z- R! {' \4 j
produced as a byproduct is sold to oil companies for injection into
, J5 t3 @: o" M- o, Poil wells. 1 m5 v3 v7 }) F) F+ r
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10. Solar, wind and ocean energy is displacing oil as an energy
" ~7 j0 E2 \" x3 C* Isource. Three new wind turbines are being erected every day in the US.
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, l# g" n5 b' U& y& wEach of the above by itself will not make a large difference in the
- R. w3 L% r( M# X6 s" Uprice of crude oil but the sum of all of them together is world . [4 h5 V) a$ o- n2 `( y. i
changing. The important thing is that OPEC no longer has the ability
) f) D) ]: T1 g3 R5 B2 {, Eto control oil prices.
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5 @2 \/ {1 O! R: r. }) t4 a9 F# wWith the above scenario, I still believe that there are under $ g, A3 k( H5 T1 m8 j- S
performed OIL companies and probably they are yet to get the justified 1 H$ g. o0 @& a1 o. z- g9 ~4 s
value ..... o- }7 B9 \7 [: v" h2 k7 A
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 5 s. S* C5 P+ w% w1 b
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2 P' W& l$ a# s1 p' Q& N6 R$ s5 YThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
1 q& B C( B. @* k' y2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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